FTSE follows US lower on impeachment threat
Fiona Cincotta September 25, 2019 5:10 AM
The FTSE is sliding this morning taking its cue from US and Asian stocks, which were hit by the prospect of President Trump being impeached.
The FTSE is sliding this morning taking its cue from US and Asian stocks, which were hit by the prospect of President Trump being impeached. The markets had already started sliding following Trump’s speech to the UN late Tuesday in which he criticized China and said he wouldn’t accept a bad deal. The impeachment news pushed US stocks and stock futures further into the red.
On the FTSE TUI slipped more than 5% after two days of strong rises as it became clear that the fallout from the demise of Thomas Cook will affect Europe’s biggest tour operator too. TUI had to cancel holidays using Thomas Cook Airlines all the way until the end of October and is struggling to find alternatives as there is a shortage of planes caused by the worldwide grounding of Boeing 737 Max.
Pound slides amid anger at PM
The pound is weaker, but considering the political turmoil in the UK is doing well to hold the 1.244 level against the dollar. Boris Johnson has been forced to cut his stay in New York short to fly back to Britain and deal with calls for his resignation after the UK’s Supreme Court ruled that his decision to prorogue Parliament was unlawful. This opens the possibility of another wrangle for the Conservative Party leadership that brought Johnson into this position and for the pound this would stave off the possibility of a no-deal Brexit in October, giving it temporarily some breathing space.
Disclaimer: The information on this web site is not targeted at the general public of any particular country. It is not intended for distribution to residents in any country where such distribution or use would contravene any local law or regulatory requirement. The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase or sale of any currency or CFD contract. All opinions and information contained in this report are subject to change without notice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. Any references to historical price movements or levels is informational based on our analysis and we do not represent or warranty that any such movements or levels are likely to reoccur in the future. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness, nor does author assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions.
Futures, Options on Futures, Foreign Exchange and other leveraged products involves significant risk of loss and is not suitable for all investors. Losses can exceed your deposits. Increasing leverage increases risk. Spot Gold and Silver contracts are not subject to regulation under the U.S. Commodity Exchange Act. Contracts for Difference (CFDs) are not available for US residents. Before deciding to trade forex and commodity futures, you should carefully consider your financial objectives, level of experience and risk appetite. Any opinions, news, research, analyses, prices or other information contained herein is intended as general information about the subject matter covered and is provided with the understanding that we do not provide any investment, legal, or tax advice. You should consult with appropriate counsel or other advisors on all investment, legal, or tax matters. References to Forex.com or GAIN Capital refer to GAIN Capital Holdings Inc. and its subsidiaries. Please read Characteristics and Risks of Standardized Options.